Austerity, which is the at the heart of the Fiscal Compact, does not promote stability; it causes chaos and turmoil.

In just over a year 10 of the 17 governments in the eurozone have collapsed, starting with fall of the Cowen-Gormley Fianna Fáil led coalition in February 2011.

The Guardian’s Ian Traynor reports :

For Europe‘s elected political leaders, the debt and currency crisis has taken an extraordinarily heavy toll. Of 17 governments in the eurozone using the single currency, 10 have been drummed out of office in little more than a year, more often than not directly because of the crisis.

The mass voter rebellion against incumbents began in February last year as bailout candidate Ireland went to the polls. Fianna Fáil’s hapless Brian Cowen quit before his party suffered the worst ever defeat of an Irish government and he was replaced by Fine Gael’s Enda Kenny.

There is however one big exception to all this instability :

The dangers of democracy do not, however, affect some of the biggest players in the euro crisis: — – in Brussels and in Frankfurt. Key leaders such as Olli Rehn and José Manuel Barroso at the European commission in Brussels or Herman van Rompuy at the European Council need not fear the voter